Haemonetics (NYSE:HAE) Hits New 1-Year Low – Here’s What Happened

Shares of Haemonetics Co. (NYSE:HAE) reached a new 52-week low during trading on Thursday . The stock traded as low as $69.29 and last traded at $70.50, with a volume of 327727 shares trading hands. The stock had previously closed at $75.05.

Analyst Ratings Changes

A number of analysts have recently weighed in on HAE shares. JPMorgan Chase & Co. assumed coverage on shares of Haemonetics in a report on Friday, December 6th. They issued an “overweight” rating and a $116.00 target price on the stock. Barrington Research reissued an “outperform” rating and set a $108.00 price objective on shares of Haemonetics in a research note on Wednesday, December 4th. Raymond James raised Haemonetics from an “outperform” rating to a “strong-buy” rating and set a $120.00 price objective for the company in a research note on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $112.00 target price on shares of Haemonetics in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Haemonetics has a consensus rating of “Moderate Buy” and an average target price of $108.78.

Haemonetics Stock Up 0.0 %

The company has a market cap of $3.77 billion, a P/E ratio of 31.18, a P/E/G ratio of 1.19 and a beta of 0.41. The company has a 50-day simple moving average of $82.67 and a 200 day simple moving average of $80.43. The company has a current ratio of 3.49, a quick ratio of 2.09 and a debt-to-equity ratio of 1.39.

Haemonetics (NYSE:HAE) last posted its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. The firm had revenue of $345.50 million for the quarter, compared to analysts’ expectations of $342.57 million. Haemonetics had a net margin of 9.10% and a return on equity of 22.67%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. On average, equities analysts anticipate that Haemonetics Co. will post 4.59 EPS for the current year.

Institutional Trading of Haemonetics

A number of hedge funds have recently bought and sold shares of HAE. Nordea Investment Management AB lifted its stake in shares of Haemonetics by 5.5% during the 4th quarter. Nordea Investment Management AB now owns 104,175 shares of the medical instruments supplier’s stock worth $8,152,000 after purchasing an additional 5,385 shares during the last quarter. Geode Capital Management LLC raised its holdings in Haemonetics by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,193,927 shares of the medical instruments supplier’s stock worth $95,986,000 after purchasing an additional 21,547 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Haemonetics during the third quarter valued at about $382,000. XTX Topco Ltd boosted its holdings in shares of Haemonetics by 84.9% in the 3rd quarter. XTX Topco Ltd now owns 8,450 shares of the medical instruments supplier’s stock valued at $679,000 after buying an additional 3,880 shares in the last quarter. Finally, Zacks Investment Management raised its stake in shares of Haemonetics by 11.5% during the 3rd quarter. Zacks Investment Management now owns 16,921 shares of the medical instruments supplier’s stock worth $1,360,000 after acquiring an additional 1,740 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

About Haemonetics

Haemonetics Corporation, a healthcare company, provides suite of medical products and solutions in the United States and internationally. The company offers automated plasma collection systems, donor management software, and supporting software solutions including NexSys PCS and PCS2 plasmapheresis equipment and related disposables and solutions, as well as integrated information technology platforms for plasma customers to manage their donors, operations, and supply chain; and NexLynk DMS donor management system and Donor360 app.